Common use of Advanced Expenses Clause in Contracts

Advanced Expenses. Expenses incurred by a Manager or Indemnified Officer in defending a civil or criminal claim, action, suit or proceeding may, upon approval of a majority (but not less than two) of the Disinterested Managers, even though less than a quorum, or, if here are less than two Disinterested Managers upon approval of the board of managers, be paid by the Company in advance of the final disposition of such claim, action, suit or proceeding upon receipt of an undertaking by or on behalf of the director of Indemnified Officer to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified against such expenses by the Company.

Advanced Expenses. Expenses incurred by a Manager or Indemnified Officer in defending a civil or criminal claim, action, suit or proceeding may, upon approval of a majority (but not less than two) of the Disinterested Managers, even though less than a quorum, or, if here there are less than two Disinterested Managers upon approval of the board of managers, be paid by the Company in advance of the final disposition of such claim, action, suit or proceeding upon receipt of an undertaking by or on behalf of the director of Indemnified Officer to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified against such expenses by the Company.

Advanced Expenses. Expenses incurred by a Manager or Indemnified Officer in defending a civil or criminal claim, action, suit or proceeding may, upon approval of a majority (but not less than two) of the Disinterested Managers, even though less than a quorum, or, if here are less than two Disinterested Managers upon approval of the board of managersManagers, be paid by the Company in advance of the final disposition of such claim, action, suit or proceeding upon receipt of an undertaking by or on behalf of the director of Indemnified Officer to repay such amount unless it shall ultimately be determined that he is entitled to be indemnified against such expenses by the Company.